North Lauderdale FHA Loans

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North Lauderdale FL FHA loans allow you to get an easy home mortgage for your house. The United States federal government insures these loans through the FHA Department to enable homeowners to get loans with limited conditions and to provide security to the bank. If an individual misses his commitments, the government insurance covers the loss of the mortgage lenders.

Positives of North Lauderdale FHA Home Loans

With a low down payment of just 3.5% and its assumable terms of borrowing, North Lauderdale FHA loans are a viable option for FTHB today. Even individuals with less than perfect credit scores can easily choose a North Lauderdale FHA home mortgage.

Disadvantages of a North Lauderdale FHA Home Mortgage

With the benefits of easy access comes the disadvantages that you will have to pay a little more on your regular home mortgage payments to cover the MIP.

Necessities to Get Qualified for an FHA Home Loan

In order to meet the requirements for a North Lauderdale FHA home loan, you need to be a legal citizen of the Unites States with a steady job. In addition, as the FHA only approves selected mortgage lenders for their home mortgage insurance, you can not apply online for a North Lauderdale FHA home mortgage from every bank. Even after you locate the best home mortgage from every bank, an FHA home mortgage is only sanctioned if the property you are requesting to buy has been authorized by the FHA department.

Maximum Limits of a North Lauderdale FHA Home Loan

The maximum limits of the mortgage amount vary in every state and county of the USA, however, the general max home mortgage limit is approximately $625,000.

How to Get a North Lauderdale FHA Loan?

If you wish to get a North Lauderdale FHA loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these loans and clarify your query to streamline the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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